If I Had a Bird, This Would Line the Cage
Ever since the Review-Journal started carrying the Las Vegas Sun in its circulation, I feel like I'm wasting money if I buy the paper. Just take a look at this Sunday's Sun. The whole front page is dedicated to Bill Walters trying to buy out a deed restriction on the Royal Links golf club so that Las Vegas can build low-income housing on the land. The Sun reports that the deal is bad for Walters who looks to make $12.2 million from the offer but good for Las Vegas taxpayers who stand to gain $38 million. Where did they come up with the numbers?
"the Sun commissioned an independent analysis by a financial advisory firm that, to further assure objectivity, does not do business with the Sun or any related companies."Let's examine the 'objectivity' that the Sun supposedly ensured. The owner of the Las Vegas Sun is the Greenspun family. The editor is Brian Greenspun. Brian Greenspun also owns American Nevada Corporation who has had land dealings with Walters in the past. Brian Greenspun considers Bill Walters to be a 'friend'.
How can they consider a study, funded by a friend of Walters, to be objective? Especially when the study didn't even take into account that the land was smacked up against a waste water treatment facility that will require modifications costing millions just to reduce the odors emanating from it?
I'll stick with the results of the analysis that Nevada Attorney General George Chanos will get from the law firm that he hired to investigate the deal. Senn Meulmans has nothing to gain and no ties to Walters that could influence their findings. It's a small price to pay for the piece of mind that this deal is in the best interest of the taxpayers.